ACCT 318 - Payroll and State Tax

3 Credits
This course is the study of the federal and state laws and regulations that govern the payroll tax arena. This will include learning about the rules and regulations that make-up the tax structure, as well as tax policy. Wage and overtime computations, tax filing compliance applications for federal, state, and local withholdings taxes and employer payroll are covered, along with analyzing and journalizing payroll transactions. State income tax computations will also be covered.

Prerequisite(s): ACCT 315
Course Learning Outcomes:
1. Interpret and apply the basic aspects of the Fair Labor Standards Act, the Federal Insurance Contributions Tax Act, Income Tax Withholding Laws, Federal Unemployment Tax Act, and State Unemployment Tax Acts.
2. Analyze payroll transactions and record them into the accounting system.
3. Analyze and complete basic payroll forms and payroll documentation.
4. Complete necessary information returns used in payroll e.g. W-2s, 1099s etc..
5. Complete state income tax returns.